Sydney, Feb 8, 2026, 16:55 AEDT — Market closed
WiseTech Global Ltd ASX:WTC shares slid 4.6% to finish at A$47.60 on Friday, dragged lower alongside a broader tech selloff. The ASX 200 information technology index dropped 3.3%. NextDC lost 3.8%, Technology One shed 5.0%, MarketIndex data showed.
The tech sub-index tumbled up to 5.3% on Friday, plumbing lows not seen since 2023 and now off 13% across the last five sessions, according to an ABC market liveblog. What’s fueling the drop? Investors have started eyeing artificial intelligence less as a growth engine, more as a threat to some corners of the software and data space.
Offshore, similar concerns have surfaced. Amazon outlined roughly $200 billion in capital spending for 2026, earmarked for data centers, chips, and other infrastructure — but shares slid as investors debated how quickly AI investments might yield returns.
Kyle Rodda, a senior market analyst with Capital.com, points to capital expenditure—capex—as the key issue in tech earnings reports. Markets have shown little patience for companies announcing bigger spending plans. Rodda notes that investors are scrutinizing whether that extra spending can actually produce enough profit to back up current valuations.
Some investors have started searching for rebound opportunities amid the wreckage. On Friday’s ASX Investor Update, Atlas Funds Management chief investment officer Hugh Dive singled out WiseTech as one of the ASX 100’s laggards for 2025, noting that selecting rebound plays is “always very challenging”. Australian Securities Exchange
Friday’s action had the hallmarks of a sector shift rather than anything specific to the company. That said, earnings season has a way of shaking things up fast—growth names usually feel it first if guidance gets knocked down, even a little.
But there’s also a real risk here. A sharper global tech slump—or a revenue or profit miss from WiseTech—could easily send the stock sliding again toward its recent lows. The “AI-vs-software” debate? That one might just linger, longer than traders would like.
WiseTech’s half-year numbers are up Feb. 25. Investors will be digging into the figures to see if CargoWise is still finding room to expand, especially as the AI buzz continues to swirl around software demand.
